Solar Panel Cost Guide in Little River, SC (2024 Update)
- Little River Solar Installation Cost: $18,525
- 25-Year Savings: $28,597
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Little River
Find out what the average cost of solar panel installation is in Little River.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Little River, the average cost of solar panels is 3 per watt.Using this figure, a typical 7.7-kW system would cost about $18,525 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Little River based on several factors, such as the type of solar panels you choose and the solar installer you hire.Despite the high upfront cost, the average Little River homeowner can save around $21,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar installer in Little River for a customized quote.
Solar savings over time in Little River
| Year | Return on Investment |
|---|---|
| 1 years | $-16,967 |
| 3 years | $-13,851 |
| 5 years | $-10,735 |
| 7 years | $-7,619 |
| 9 years | $-4,503 |
| 11 years | $-1,387 |
| 13 years | $1,729 |
| 15 years | $4,845 |
| 17 years | $7,961 |
| 19 years | $11,077 |
| 21 years | $14,193 |
| 23 years | $17,309 |
| 25 years | $20,425 |
Top Solar Installers in Little River
Although it's possible to install solar panels by yourself, it involves extra time and knowledge. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Little River
Factors that Affect Solar Panel Costs in Little River
There are many factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Little River, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Little River, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can affect the cost. Little River’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.59 | $15,070 | $18,723 | 11.1 years |
| 8 kW | $3.52 | $19,706 | $25,350 | 10.9 years |
| 10 kW | $3.45 | $24,150 | $32,171 | 10.7 years |
| 12 kW | $3.38 | $28,400 | $39,185 | 10.5 years |
| 14 kW | $3.31 | $32,458 | $46,392 | 10.3 years |
| 16 kW | $3.24 | $36,322 | $53,792 | 10.1 years |
| 18 kW | $3.17 | $39,992 | $61,385 | 9.9 years |
| 20 kW | $3.11 | $43,470 | $69,172 | 9.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: The model of solar panel you’d like to get plays a role in which installer you should go with, since different companies provide different panels.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Little River, SC Solar Cost FAQs
How much does it cost to install solar panels in Little River?
The average cost of solar panels in Little River is about $17,250 for a 5-kW system and $34,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Little River?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Little River have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.